Mining is the backbone of public blockchains. Without mining, we wouldn’t have Bitcoin, Litecoin, Ethereum, and a whole host of other cryptocurrencies. A miner contributes to the very success of the network, and is rewarded to do so. Crypto-economics is the term for the space looking to create incentives for people to participate to help the network to grow and thrive. Mining is the original incentive for users to participate in blockchains, and is a large reason many people got into blockchain security so early. Miners keep track of who is paying who on the network and verify that these transactions are legitimate, all without having to trust any other actor on the network. It is a revolutionary way to run a payment network, and it allows a network to exist globally, 24/7/365, and without censorship.

Mining is the backbone of public blockchains. Without mining, we wouldn’t have Bitcoin, Litecoin, Ethereum, and a whole host of other cryptocurrencies. A miner contributes to the very success of the network, and is rewarded to do so. Crypto-economics is the term for the space looking to create incentives for people to participate to help the network to grow and thrive. Mining is the original incentive for users to participate in blockchains, and is a large reason many people got into blockchain security so early. Miners keep track of who is paying who on the network and verify that these transactions are legitimate, all without having to trust any other actor on the network. It is a revolutionary way to run a payment network, and it allows a network to exist globally, 24/7/365, and without censorship.